Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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◆ Deal benefits from limited size, green label and short tenor, says lead ◆ Small NIP paid ◆ BPER involved in complex Italian M&A
◆ Larger-than-usual size ◆ Constructive Friday opening led to three well-received FIG trades ◆ ...of which Alpha may have paid the least NIP
◆ Unusually busy Friday for European bank funding ◆ Small premium, large demand ◆ Meanwhile 10 year OAT-Bund spread breaches 100bp
◆ Market participants await Meta's rumoured euro debut ◆ Carrefour sells first Friday corporate deal since June ◆ Three FIG names hit the market
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Banco Santander’s recent €1bn five year senior bond took another pummelling in secondary markets on Tuesday morning, as Spain’s government bond yields rose amid concerns around the country’s economy and the capability of its banks to cope with a downturn. The moves came as senior unsecured spreads weakened across the board, with banks in peripheral European countries particularly soft.
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Regulators appeared keen to clear their desks before the Easter break this week, firing out discussion papers, plans and reviews.
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Personal credit provider Provident Financial has closed a £120m retail bond, its third and largest retail transaction to date.
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Rizal Commercial Banking Corp has hit its funding target for the year, after pulling off a $75m tap to an outstanding bond last week. But it is still considering returning to the international market, which could help fund a boost in its domestic lending.
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Woori Bank could sell its first ever Australian bond in the second half of this year, as part of the South Korean lender’s efforts to diversify its investor base and hit a funding target of around $1bn.
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FIG syndicate bankers expect issuers to take a more measured approach to senior unsecured funding after the Easter break, choosing their windows wisely and not rushing to print large deals that could prove expensive in the long run.